COURSE OUTLINE

Course

Financial and Managerial Accounting (2015-2016)

Code / Version ACCT8090 (102)

Total Hours

42

Credits

PreRequisite(s)
CoRequisite(s)
Course Description
This course is designed to provide human resources practitioners with the knowledge about financial and managerial accounting that they
require in order to make decisions where an understanding of the financial measurement bases and underlying methodologies used is
required. Many of these decisions faced by the HR professional requires a thorough knowledge of the procedure. These will be studied in
detail. Students will also learn about the accounting and financial dimension involved in the management of the human resources function
itself to ensure they are familiar with the procedure, without necessarily requiring the ability to carry out the calculations.

PLAR Eligible: Yes

Course Outcomes
Successful completion of this course will enable the student to:
1.
2.

Interpret a company's main financial reports: the income statement, the balance sheet and the retained earnings statement based on a
knowledge of financial accounting, managerial accounting and finance.
Categorize cost behavior in order to prepare operating budgets likely to be used by managers.

3.

Classify financial data as it is compiled, reported, and analyzed to support organizational goals and objectives.

4.
5.

Calculate and interpret a break even analysis, a contribution margin analysis and a sensitivity analysis as they relate to key decisions
required to be made by professionals.
Illustrate the application of activity based costing, transfer pricing and the allocation of service department costs.

6.

Illustrate how financial information applies to different managers.

7.

Recommend departmental plans and budgetary controls in line with responsible accounting practices.

8.

Create a financial analysis based on a given set of financial statements by calculating and interpreting financial ratios.

Essential Employability Skills addressed in this course

Taught Reinforced Assessed

Communicate clearly, concisely and correctly in the

written, spoken, and visual form that fulfills the purpose
and meets the needs of the audience

Respond to written, spoken, or visual messages in a

manner that ensures effective communication

Numeracy

Execute mathematical operations accurately

Critical Thinking and Problem Solving

Apply a systematic approach to solve problems

Use a variety of thinking skills to anticipate and solve

problems

Locate, select, organize, and document information using

appropriate technology and information systems

Analyze, evaluate, and apply relevant information from a

variety of sources

Show respect for the diverse opinions, values, belief

systems, and contributions of others

Communication

Information Management

Interpersonal

2015-09-14

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COURSE OUTLINE
Course

Financial and Managerial Accounting (2015-2016)

Code / Version ACCT8090 (102)

Essential Employability Skills addressed in this course
Interpersonal

Interact with others in groups or teams in ways that

contribute to effective working relationships and the
achievement of goals

Personal

Manage the use of time and other resources to complete

projects

Take responsibility for one's own actions, decisions, and

consequences

Taught Reinforced Assessed

Unit Outcomes
Successful completion of the following units will enable the student to:
1.0

Introduction
1.1
1.2
1.3

2.0

4.0

5.0

6.0

Describe the uses of financial and accounting information and the stakeholders of a business financial and accounting
information.

Financial Statement Analysis

2.1

3.0

Identify the major distinctions between management accounting and financial accounting by analyzing the role of each within a
business.
Explain the different forms of business organizations.

2.2

Prepare and interpret financial statements, such as the income statement, balance sheet and the statement of retained
earnings.
Analyze the financial statements across time and across firms to better identify economic and strategic differences.

2.3

Compute and interpret financial ratios, such as the profitability ratios, used to measure shareholders' interests.

2.4

Compute and interpret financial ratios, such as the liquidity and leverage ratios, used to measure creditors interests.

Cost Concepts and Behaviour

3.1

Explain costs according to their behavior, traceability and relevance.

3.2

Apply cost classification in financial statements for the different forms of business organizations.

3.3

Calculate and interpret a contribution margin analysis.

3.4

Evaluate costs according to their behavior to determine whether they are relevant or irrelevant for decision making purposes for
managers.

Activity-Based Costing Budgets

4.1

Distinguish between activity-based costing and traditional costing methods.

4.2

Design an activity-based costing system using the classification of activities.

4.3

Identify the benefits and limitations of activity-based costing.

4.4

Assess the use of activity-based costing in service organizations.

Budgetary Control
5.1

Explain the role of budgeting.

5.2

Prepare an operating budget.

5.3

Develop budgeted financial statements from the component budgets of a master budget.

5.4

Explain the issues in the budgeting process, including participative budgeting and responsibility accounting.

Cost Volume-Profit Relationships and Relevant Costs

6.1

Interpret and calculate the contribution margin and break-even analysis.

6.2

Apply the cost-volume-profit framework to different managerial decisions.

2015-09-14

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COURSE OUTLINE
Course

Financial and Managerial Accounting (2015-2016)

Code / Version ACCT8090 (102)

7.0

6.3

Explain the relevant cost framework as it applies to managerial decision making.

6.4

Explain decision making in a constrained resource environment.

6.5

Determine the allocation of costs, including service department costs.

Variance Analysis and Performance Measurement

7.1

Distinguish between and prepare a static budget and a flexible budget.

7.2

Identify risk through sensitivity analysis.

7.3

Identify the role, strengths and weaknesses of decentralization in organizations.

7.4

Explain cost, profit and investment centres and evaluate their divisional performance.

7.5

Determine the uses of transfer pricing.

7.6

Construct a balanced scorecard.

Required Student Resources

Brewer, Garrison, Noreen, Kalagnanam. Introduction to Managerial Accounting (4th). McGraw Hill.
Trenholm, B, Irvine, W, Kimmel, P., Weygandt, J, Kieso, D. Financial Accounting (customized) (6th).

Optional Student Resources

Evaluation
The minimum passing grade for this course is 60 (C).
In order to successfully complete this course, the student is required to meet the following evaluation criteria:
Assignments (2)

30.00

Mid Term Exam

35.00

Final Exam

35.00
100.00 %

Late Policy:
The assignments are due on the assigned due date, late assignments will only be considered with proper documentation such as medical
documentation, death certificate and other documents that support the lateness.

Other
Conestoga College is committed to providing academic accommodations for students with documented disabilities. Please contact the
Accessibility Services Office.
An Instructional Plan will be distributed at the beginning of the course and will be referred to in conjunction with this course outline.

Prepared By

Sylvia Vyrostko

School

Business and Hospitality

Date

2015-07-22

2015-09-14

Conestoga ITAL

RETAIN THIS DOCUMENT FOR FUTURE EDUCATIONAL/EMPLOYMENT USE

09:17

COURSE OUTLINE
Course

Financial and Managerial Accounting (2015-2016)

Code / Version ACCT8090 (102)

2015-09-14

RETAIN THIS DOCUMENT FOR FUTURE EDUCATIONAL/EMPLOYMENT USE

09:17